Losses from fraud with payment cards in Ukraine increased by 73% in 2023

The National Bank of Ukraine Reports Increase in Illegal Operations with Payment Cards

The press service of the National Bank of Ukraine has reported that during 2023, the number of illegal operations with payment cards leading to losses increased by a quarter and amounted to 272 thousand. During this period, the losses of payment service providers, merchants, and customers from such actions amounted to almost 833 million hryvnias, which is 73% more than in 2022.

The most common fraud schemes were non-delivery of goods after prepayment, phishing, calls from banks requesting assistance through social media. Olga Lobaychuk, Head of the Department of Consumer Rights Protection of Financial Services of the NBU, emphasized the importance of preventing fraud and strengthening cooperation with law enforcement agencies for effective investigation of these crimes.